BRP files for IPO

BRP Inc. is making headway in its plan to go public. On Wednesday, the company filed a preliminary prospectus for a proposed initial public offering of its subordinate voting shares in Canada.

Bain Capital is currently the largest shareholder of the company, with an estimated 50 percent stake. The Bombardier and Beaudoin families have about a 35 percent stake under the Beaudier Group, and pension fund manager Caisse de dépôt et placement du Québec holds the remaining 15 percent, according to a Financial Post report. BRP is expected to go into the Toronto Stock Exchange IPO seeking to raise $250 million.

BRP last sought to take the company public in 2008, but that plan was halted when Lehman Brothers collapsed that September.